The shakeup came after Jana Partners took an 8.3% stake in the company and nominated four directors for the board. Mutual fund firm Neuberger Berman, which owns a 2.7% stake, has also pressured Whole Foods to take steps to improve its stock price, which has fallen steadily since peaking in 2013.

Reuters earlier on Wednesday reported that Whole Foods planned to remove more than half its board, citing a person familiar with the matter. The board, with 12 directors, is expected to remove another two directors by year-end, said the source, who was not authorized to speak publicly about the matter and requested anonymity.

The grocer has not struck a standstill agreement with Jana, the source said, meaning the hedge fund can continue to pressure it to improve performance. Standstill agreements usually offer an activist hedge fund representation on the company’s board in exchange for support and silence for at least the next year.

Jana and a spokesman for Whole Foods were not immediately available for comment.

In a filing in April, Jana said it was frustrated with Whole Foods’ lack of engagement regarding its strategic review, noting its “apparent unwillingness to engage in discussions with third parties regarding such alternatives.”